Target Price
Morgan Stanley Downgrades Coinbase to Bearish and Halves Price Target
Morgan Stanley has cut its price target for Coinbase from $258 to $120 – a decrease of approximately 53% – and changed its rating to bearish. Reasons include a slowdown in trading activity, a softer revenue forecast, and uncertainty following the $6.3 billion Binance hack. COIN shares fell over 3.3% to $138 on Monday.